FERNANDINA BEACH, HAINES CITY, ORANGE COUNTY AND NORTH PORT, FLA. — Contemporary Healthcare Capital (CHC) has funded a $5 million mezzanine loan for the acquisition of four skilled nursing facilities in Florida. The borrowers were affiliates of Citadel Care Centers and Cascade Capital Group. Totaling 480 licensed beds, the properties are located in Fernandina Beach, Haines City, Orange County and North Port. The CHC loan was made in conjunction with a senior loan and accounts receivable line provided by SunTrust Bank. Proceeds of the loans were used for the …
Finance
BOERNE AND ROUND ROCK, Texas — CBRE Capital Markets has arranged a three-year, floating-rate loan, including 24 months of interest-only payments, on behalf of a joint venture between Harrison Street and Franklin Development Properties for the refinancing of two assisted living and memory care facilities in Texas. The portfolio consists of Franklin Park Boerne and Franklin Park Round Rock, two 76-unit assisted living and memory care community. Both properties were developed by the borrower in 2017. The communities feature a variety of amenities including a full-service hair and nail salon, theatre, …
BMO Harris Healthcare Closes $19.5M Acquisition Loan for 132-Unit Seniors Housing Community in Indiana
by Jeff Shaw
BLOOMINGTON, Ind. — BMO Harris Bank’s Healthcare Real Estate Finance group has closed a $19.5 million acquisition loan for Gentry Park Senior Living, a seniors housing community located at 901 S. Hastings Drive in Bloomington. The owners are an institutional private equity group, and St. Charles, Mo.-based Arrow Senior Living is the new fee-based manager of the facility. Built in 2016, the 132-unit seniors housing facility 32 senior villas, 74 assisted living units and 26 memory care units. Additionally, the 80,611-square-foot property features common areas, concierge services, free chauffeured transportation, spacious …